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Currency troubles could undermine support for Putin
Threat to Russia's financial stability comes at a time when relations with the West are hit by Ukraine conflict
Add BT as a preferred sourcePublished Wed, Dec 17, 2014 · 09:50 PM
Moscow
RUSSIA failed to halt the collapse of the rouble on Tuesday, leaving President Vladimir Putin facing a full-blown currency crisis that could weaken his iron grip on power.
A 6.5 percentage point interest rate rise to 17 per cent overnight failed to prevent the currency from hitting record lows in a "perfect storm" of low oil prices, looming recession and Western sanctions over the Ukraine crisis.
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